Drum Handling Equipment Market – Industry Analysis and Forecast (2021-2027)

Drum Handling Equipment Market size was valued at US$ 2.22 Bn. in 2020 and the total revenue is predicted to grow at 6.29% CAGR through 2021 to 2027, reaching nearly US$ 3.40 Bn.
Drum Handling Equipment Market Overview:
A piece of mechanical equipment or tool used to grip securely, lift, and transport cylindrical modules like steel drums, barrels, plastic drums, and fibre drums is referred to as drum handling equipment. It is made up of spring-loaded metal arms that form a tight and secure grip.

This equipment is commonly used in the chemical and petroleum industries, as well as industries that require cylindrical module shipping and storage. Furthermore, drum handling equipment is widely used in the food, chemical, pharmaceutical, industrial, and other industries for efficient and safe drum dumping at various heights, and it can be used for a variety of applications, including drum dispensing in hazardous and non-hazardous areas.



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The major factors that are expected to boost the growth of the Drum Handling Equipment Market during the forecast period are –

• The increasing trend of mass production, is expected to further reduce production costs in major end-use industries.

• The increasing investments by major manufacturers in the field of drum handling equipment development to improve overall drum handling equipment performance and efficiency, are expected to offer promising growth opportunities for global drum handling equipment market players in the forecasted years.

• Drum handling equipment is widely used in the food, chemical, pharmaceutical, industrial, and other industries for safe and efficient drum dumping at various heights, and it can be used for a variety of applications, including drum dispensing in hazardous and non-hazardous areas.

• During the forecast period, the increasing trend of mass production to reduce production costs in major end-use industries is expected to contribute to the growth of the drum handling equipment market.

• Another major factor expected to accelerate the adoption of drum handling equipment during the forecast period is ease of use, safety considerations, and material handling efficiency. The drum handling equipment is critical in ensuring the safety of the process's human labour. The lack of drum handling equipment increased the risk of back strains, finger or toe crushing, or other physical injuries caused by improper handling of heavy drums.

The limited adoption of the drum handling equipment in small scale industries is expected to be a major impediment to the growth of the Drum Handling Equipment Market during the forecast period.
Drum Handling Equipment Market Segment Analysis:
The Global drum handling equipment market is segmented based on power source, product type, and application.

Based on power source, the global Drum handling market is segmented into hydraulic and electric.


By power source, the electric drum handling segment is expected to register a higher growth rate until the end of the forecast period. During the forecast period, demand for electric Drum Handling equipment machines is expected to be driven by rising awareness and demand for precision and accuracy in industrial applications in order to reduce process waste and improve operational efficiency. The hydraulic power source type is expected to dominate the market during the forecast period due to its low cost and the need for ergonomic design for dumping on higher surfaces. Furthermore, the hydraulic mechanism can lift materials up to 20 metres and tilt materials at various heights. Hydraulic mechanisms are used in forklifts to make better use of the mechanism.

By application, the Global Drum Handling market is segmented as food, chemicals, pharmaceutical, industrial, and others.



Due to the increasing applications of drum dumpers in a variety of industrial operations, the industrial application segment is expected to account for the majority of the market during the forecast period. The market is growing due to increased awareness and demand for precision and accuracy in industrial applications, as well as the use of drum dumpers to reduce process waste and improve operational efficiency.
Drum Handling Equipment Market Regional Insights:
Geographically, the Global Drum handling equipment market is segmented into five major regions, which are North America, Europe, South America, Asia-Pacific, Middle East & Africa.

Due to the region's increasing industrialization, Asia Pacific is considered a dominant region for the Drum Handling Equipment Market. During the forecast period, the Asia Pacific Drum Handling market is expected to grow at a CAGR of 5%. Furthermore, in recent decades, China and India have experienced unprecedented industrial development, which is expected to create opportunities for the Drum Handling market in the region during the forecast period (2022-2027).

During the forecast period, demand for drum handling equipment is expected to rise due to the growth of the manufacturing, chemical, and food industries in countries such as India, China, and Indonesia. Furthermore, rising demand for materials handling equipment in Asia Pacific's fast-growing industrial economies is a major driver of market growth in the region.

North America is estimated to have a high CAGR during the forecasted period, followed by the Asia Pacific region.

Due to the region's strict regulatory policies, which place a high value on workplace safety, Europe is expected to grow at a profitable rate over the forecast period. This factor is expected to drive the region's Drum Handling market forward.
Furthermore, new growth opportunities from the expanding warehouse sector in European countries such as the United Kingdom, Germany, and France are expected to accelerate regional market growth in the coming years.

South America is estimated to show a moderate growth rate during the forecasted period (2022-2027).

The report's goal is to provide stakeholders in the industry with a comprehensive analysis of the Drum Handling Equipment market. The report analyses complicated data in simple language and presents the past and current state of the industry, as well as forecasted market size and trends. The report examines all aspects of the industry, with a focus on key players such as market leaders, followers, and newcomers.

The report includes a PORTER, PESTEL analysis as well as the potential impact of microeconomic market factors. External and internal factors that are expected to have a positive or negative impact on the business have been examined, providing a clear futuristic view of the industry.

The report also aids in comprehending the dynamics and structure of the Drum Handling Equipment market by analysing market segments and projecting the Drum Handling Equipment market size. The report is an investor's guide because it clearly depicts competitive analysis of key players in the Drum Handling Equipment market by product, price, financial position, product portfolio, growth strategies, and regional presence.
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Global Drum Handling Equipment Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2027


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 2.22 Mn.


Forecast Period 2022 to 2027 CAGR:
6.29%
Market Size in 2027:
US $ 3.40 Mn.


 Segments Covered:
by Power Source
• Hydraulic
• Electric


by Application
• Food
• Chemicals
• Pharmaceutical
• Industrial
• Others



Drum Handling Equipment Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Drum Handling Equipment Market Key Players
• METO Systems (US)
• Valley Craft Industries (US)
• Vestil Manufacturing Corp. (US)
• Beacon Industries (US)
• Flexicon Corporation (US)
• Wuxi Tongyang Machinery (China)
• National Bulk Equipment, Inc. (US)
• Liftomatic Material Handling, Inc. (US)
• Drum Runner (US)
• Ruger Industries (David Round Company) (US)
• KIJEKA Engineers (India)
• Air Process Systems & Conveyors Co., Inc. (US)
• Easy Lift Equipment (US)
• K.Y Industries (India)

Frequently Asked Questions:

1. What is the forecast period considered for the Drum Handling Equipment market report?
Ans. The forecast period for the Drum Handling Equipment market is 2022-2027.

2. Which key factors are hindering the growth of the Drum Handling Equipment market?
Ans. The limited adoption of drum handling equipment in small scale industries.

3. What is the compound annual growth rate (CAGR) of the Drum Handling Equipment market for the forecast period?
Ans. The estimated CAGR for the Drum Handling Equipment market is 6.29%.

4. What are the key factors driving the growth of the Drum Handling Equipment market?
Ans. Multiple factors such as, Safety concerns, Efficiency, Increase in Mass production etc are driving the Drum Handling Equipment market.

5. Which are the worldwide major key players covered for the Drum Handling Equipment market report?
Ans. Players like METO Systems (US), Vestil Manufacturing Corp. (US), Beacon Industries (US), Wuxi Tongyang Machinery (China), National Bulk Equipment, Inc. (US), Liftomatic Material Handling, Inc. (US), Drum Runner (US), etc.